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Sun Mar 29, 2020, 07:53 PM

Health insurance premiums could skyrocket: analysis

Health insurance premiums could skyrocket because of the coronavirus pandemic, according to analysis released last week.

Premiums could jump as much as 40 percent next year if the coronavirus ends up hospitalizing millions of Americans, state insurance marketplace Covered California's analysis warned.

The analysis also found that Insurers, employers and individuals are expected to pay anywhere from $34 billion to $251 billion in additional costs for testing and treating COVID-19. A liberal estimation would boost the about $1.2 trillion costs per year by 20 percent or more, potentially leading to a 40 percent increase in premiums.

Covered California's analysis applies to the commercial insurance market that represents coverage offered to 170 million workers and individuals through private health plans but not to Medicare and Medicaid.

https://www.msn.com/en-us/news/us/health-insurance-premiums-could-skyrocket-analysis/ar-BB11SdbI?li=BBnb4R7

7 replies, 579 views

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Arrow 7 replies Author Time Post
Reply Health insurance premiums could skyrocket: analysis (Original post)
Yo_Mama_Been_Loggin Mar 29 OP
jimfields33 Mar 29 #1
lunasun Mar 29 #2
BigmanPigman Mar 29 #3
safeinOhio Mar 29 #4
Locrian Mar 29 #5
customerserviceguy Mar 29 #6
Dirty Socialist Mar 29 #7

Response to Yo_Mama_Been_Loggin (Original post)

Sun Mar 29, 2020, 07:57 PM

1. Seems like congress needs to investigate this.

The insurance companies are not paying for this. The federal government is. Something is smelling. Of course, there’s other real discussion that could change everything, but I’ll refrain.

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Response to jimfields33 (Reply #1)

Sun Mar 29, 2020, 08:05 PM

2. +1

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Response to Yo_Mama_Been_Loggin (Original post)

Sun Mar 29, 2020, 08:07 PM

3. Everyone's insur increased 20% last year.

So I guess this means my rates will go up 60% next year. Oh goodie. You have a choice, go bankrupt or die.

https://www.bls.gov/news.release/cpi.t02.htm

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Response to Yo_Mama_Been_Loggin (Original post)

Sun Mar 29, 2020, 08:25 PM

4. Medicare for all

anyone?

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Response to safeinOhio (Reply #4)

Sun Mar 29, 2020, 08:30 PM

5. if this isn't an argument for mediacare for all I don't know what is...

Although I've seen disgusting posts that say we can't bring it up.
Likely from people who HAVE coverage.....

But seriously.... we need a complete overhaul of our civil defense stockpiles, our treatment, and healthcare system. And it includes solving the problem of 68,000 who die every year from lack of HC. Not to mention CV19

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Response to safeinOhio (Reply #4)

Sun Mar 29, 2020, 11:31 PM

6. The good news is

I'm eligible for Medicare before the end of this year.

Also, let's face it, this crisis will be the thing that gets us to single payer faster than anything else would.

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Response to Yo_Mama_Been_Loggin (Original post)

Sun Mar 29, 2020, 11:36 PM

7. My Prediction

The Health Insurance “Industry” will collapse next year. The government will have to take over.

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